BackIndia probes ‘misappropriation’ of govt incentives by EV makers
Without revealing names, the minister said two electric vehicle makers have been suspended from using the scheme after the examination of the complaints
PremiumMinister for Heavy Industries Mahendra Nath Pandey informed Parliament on Tuesday that India was investigating the possible misappropriation of incentives given to electric vehicle (EV) makers. The minister said the incentives were given under a ₹100 billion ($1.21 billion) programme to promote their faster adoption. The investigation was initiated after complaints were made against 12 electric vehicles and parts manufacturers.
The complaints were registered against Hero Electric Vehicles Pvt Ltd, Okinawa Autotech Pvt Ltd, Benling India Energy and Technology Pvt Ltd, Okaya Ev Pvt Ltd, Jitendra New Ev Tech Pvt Ltd, Greaves Electric Mobility Pvt Ltd, Revolt Intellicorp Pvt Ltd, Kinetic Green Energy & Power Solutions Ltd, Avon Cycles Ltd, Lohia Auto Industries, Thukral Electric Bikes Pvt Ltd and Victory Electric Vehicles International Pvt Ltd.
According to the reports, complaints were registered against them for violating certain guidelines listed under the programme. None of these companies has so far issued a statement regarding the probe that has been initiated against them.
Mahendra Nath Pandey said all the complaints have been verified by the agencies. Without revealing names, the minister said two electric vehicle makers have been suspended from using the scheme after the examination of the complaints.
India wants to grow its electric car market from 1 per cent of total car sales, of about 3 million a year, to 30 per cent by 2030. To achieve that, the government is reimbursing EV and hybrid vehicle makers for reducing the purchase price of their vehicles under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) programme.
Pandey told Parliament that the sale of electric vehicles under the programme has increased from 19,100 in 2019-20, when the scheme started, to 442,901 in 2022-23 up to Dec. 9 2022.
(With agency inputs)
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
